Purpose of an Appraisal
What is the Purpose of an Appraisal?
- To obtain a professional opinion of the present fair market value on an aircraft.
- To obtain a professional opinion of the value on an aircraft to be renovated or modified.
- An expert opinion of the value of an aircraft is useful as a prudent safeguard against excessive Tax Assessments, Capital Gains and other taxes.
- Appraisals are used to verify Damage Claims resulting from fire, hail, windstorms, accidents and other disasters.
- An appraisal may provide the basis for decision-making in the commitment of funds for acquisition.
- Provides persuasive independent evidence of the condition of an aircraft.
- Assist a prospective purchaser in obtaining financing or insurance.
- Assist the financial institutions by substantiating the nature and value of the aircraft as it relates to collateral.
- Assist the financial institution by supporting the Loan Portfolio for examination by the Loan Committee and/or Bank Examiner.
- Distinguishes sellers aircraft from others that may be listed for sale.
- Should reduce the time required to sell an aircraft by 50%.
How Much Will the Aircraft Appraisal Cost?
Fees will vary depending on the size of the aircraft and the length of time involved in completing analyses of all relevant data.
How long will it take to Complete the Report?
One must allow sufficient time for the appraiser to do a thorough job. The appraiser may spend a short time actually inspecting the aircraft, but will spend considerable time researching data. The Certificate of Appraisal and Inspection Data Sheet Analysis of the Appraisal is issued after the physical inspection of the aircraft has been completed.
Standards of Professional Practice and Conduct.
The National Aircraft Appraisers has established rigid standards of professional practice and conduct to which every Association Member must adhere. It is essential to all parties receiving and relying upon appraisals that these standards be meticulously maintained.
The National Aircraft Appraisers Association provides a broad range of service to the Aviation Industry through its Professional Approach to Aircraft Valuations. Bankers, Insurers, Purchasers, Sellers, and owners immediately recognize the value of an Independent Aircraft Appraisal.